Geelong motorists are enjoying some fairly stable fuel prices across the region despite the simmering in the Middle East.
Drivers had been warned rising global oil prices could have an impact of the price at the bowser, but told not to panic.
Mark McKenzie from the Australasian Convenience and Petroleum Marketers Association has told media that the market wasn’t expecting much turbulence out of the latest conflict.
“Oil traders post-COVID are used to a bit of global instability,” he said.
Crude oil markets saw a sharp four-day sell-off from June 22-26, driven by a mounting global supply and the ceasefire agreement between Israel and Iran that was brokered by the US..
Prices across Geelong and the Surf Coast vary . We’re seeing unleaded selling for as low as a $1.59 a litre and as high as $179.0 a litre.
